Final Year End

The Final Year End permanently closes the fiscal year and advances the start date to the next fiscal year. Unlike the preliminary year end, this step is not reversible. A preliminary year end must be completed first. Access from Ledger › Year End › Final.

Process

Store Select the store to finalize. Process Permanently close the fiscal year. The Start of Fiscal Year in the Store Master advances by one year. All income/expense balances are zeroed and transferred to Retained Earnings. ← Previous Preliminary Year End Next → Report List